Concept:Privatization is the transfer of a business, industry, or service from government ownership to private individuals or companies.
Explanation:When the government gives up its ownership and control of a business to individuals, it is known as privatization.
This is usually done by selling government shares or assets to private investors.
Under privatization, the private sector manages the business without direct government interference.
Nationalization is the opposite process, as it means government takes over private businesses.
Commercialization refers to running a public enterprise on commercial principles without transfer of ownership.
Indigenization means transferring ownership or control to the citizens of the country, not necessarily to private buyers in a general sense.
Therefore, the action described in the question matches privatization exactly.
Answer:C. privatization.